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Stock Update: Automatic Data Processing Inc (NASDAQ:ADP) – Payroll firm ADP says employee data stolen at some clients

[Reuters] – Payroll firm Automatic Data Processing Inc said tax and salary data of employees of “a small number” of its clients had been stolen. The company said on Tuesday that the theft occurred because some of its clients mistakenly published unique access codes to employee accounts online. ADP also said it was working with a federal law agency regarding investigation into the data theft. Read more on this. Automatic Data Processing, Inc. (ADP) , valued at $40.63B, started trading this morning at $89.19. During the trading session, ADP traded between $87.85 to $89.49 with a trailing 52-week range being $64.29 to $91.00. Priced at 27.60x this year’s forecasted earnings, ADP shares are relatively expensive compared to the industry’s 14.59x forward p/e ratio. And for passive income investors, the company pays shareholders $2.12 per share annually in dividends, yielding 2.40%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $0.67 per share, which would be $0.12 better than the year-ago quarter and a $0.01 sequential increase. The full-year EPS estimate is $3.24, which would be a $0.35 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.93 Billion. If realized, that would be a 8.92% increase over the year-ago quarter. More recently, Compass Point Initiated ADP at Sell (Apr 15, 2016). Previously, Stifel downgraded ADP from Buy to Hold. The average price target for ADP shares by the analysts covering it is $89.79, which is 0.67% above where the stock opened. See more in (NASDAQ:ADP) Similar Articles: Stock Update: Automatic Data Processing Inc (NASDAQ:ADP) – ADP(R) Workforce Vitality Report Q1 2016 Shows Accelerated Growth in Wages Stock Update: Automatic Data Processing Inc (NASDAQ:ADP) – ADP TotalSource Wins 2016 BIG Innovation Award for Helping Companies Stay Compliant With the Affordable Care Act Stock Update: Automatic Data Processing Inc (NASDAQ:ADP) – TTM Technologies Embarks on a Strategic Human Resources Journey After Acquisition by Implementing a Unified ADP Payroll Solution in North America
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